Being a salary earner in Nigeria often feels like a tightrope walk, between rising inflation, surprise bills, and the occasional village contribution, it’s easy to feel like your money disappears before the month ends. But it doesn’t have to be this way.
Here are 6 tested and practical saving hacks every Nigerian earning a monthly income should adopt to build financial stability, peace of mind, and wealth.
- Save Before You Spend (Not After)
The moment your salary drops, don’t pay NEPA first. Don’t even touch that Jollof fund.
Set aside at least 15%–25% of your income immediately. Automate it if possible.
Use bank standing orders or fintech apps to transfer to a savings or investment account once your salary hits.
- Use the 80/20 Rule (Or 50/30/20 if You Can Manage It)
If budgeting overwhelms you, simplify your formula:
- 80% for needs and wants
- 20% straight into savings/investment
Want to be more intentional? Try the 50/30/20 rule:
- 50% Needs (rent, food, bills)
- 30% Wants (data, Netflix, aso-ebi)
- 20% Savings
- Treat Savings Like a Monthly Expense
Imagine your savings as a monthly bill like rent. Prioritize it and track it.
Better still, nickname your savings account things like:
- “Land Deposit 2026”
- “Dubai Trip December”
- “Emergency Engine Fund”
Naming gives your savings purpose, and purpose leads to discipline.
- Try the “No Spend Challenge” (Even If It’s Just Weekly)
Pick 1 day per week to not spend anything—no transfers, airtime, or snacks.
Do it for 4 weeks and save what you would’ve spent.
Small wins = big habits.
- Buy in Bulk (Especially Non-Perishables)
Nigeria’s inflation punishes small purchases.
Buy foodstuff, toiletries, and airtime in bulk.
It’s boring, but it saves thousands monthly.
Co-buy with friends or neighbours and split the cost—especially for bags of rice or cartons of noodles.
- Move Your Savings into Investments
Don’t just save, grow it. That ₦100,000 in your regular account is losing value daily.
Use platforms like Podermonie to invest in safe, regulated fixed-income products:
- Treasury Bills
- Commercial Papers
- High-Yield Savings
- Bond Notes
With options starting as low as ₦5,000, you can beat inflation and build wealth passively.
Real Talk: Your Salary Can Be Your Seed
You don’t need a side hustle or millions to start saving. You just need a strategy—and commitment.
Most importantly, don’t let your money sleep in a 5% savings account while inflation eats 30%. Let Podermonie work for you.
Ready to Take Charge of Your Money?
Download and Start Investing with Podermonie Now
Watch your money grow while you focus on living your best life.